TORONTO, Jan. 22 /CNW/ - Scotiabank today announced changes in the
interest rates charged on Scotia residential mortgages. The rates on the
following products are:-  The Prime Rate for the three-year Ultimate Variable Rate Mortgage will
       decrease by 0.25 per cent to 5.75 per cent, effective January 23,
       2008;

    -  The Prime Rate for the five-year Flex Value Mortgage will decrease by
       0.25 per cent to 5.75 per cent, effective January 23, 2008.